Gotmortgage.com CFPB Complaints

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2000 Latest Complaints
Date Received Timely Response Product Issue State / Zip Submitted Via Tags
09/15/2020 Yes
  • Mortgage
  • Conventional home mortgage
  • Applying for a mortgage or refinancing an existing mortgage
  • CA
  • 90715
Web
On XXXX XXXX we submitted 2 home loan applications by telephone to a representative of Lending 3 Inc. One application for our primary residence which we own free and clear, to cash out {$120000.00} total loan amount. The second application submitted simultaneously for one of our investment properties to simply lower the rate and payment on a new 30 year fixed mortgage. We were advised that their policy was to not offer a rate lock until the loans were approved in their underwriting dpt. For this reason, we were anxious to move the process along and we submitted all of our income and asset information to the company before we even saw an estimate. After calling the company for over a week, it wasn't until XX/XX/XXXX that we received initial disclosures. We would have preferred to receive them by traditional hard-copy but they said they were delivered to our email to save time since we were rushing them for our loan paperwork. This should have been our first red flag as this is not how we have experienced the mortgage application process in previous dealings with national banks like XXXX XXXX, which where we have 3 of our mortgages. There are a few issues with this company. >Wanting to get our interest rate locked-in, we continued to call and follow up with no communication from them. >We found it confusing that when we finally heard from the processor in mid XXXX, she asked for XXXX 's pay stub, when we did not disclose employment income. ( He receives a payout from his employer that he retired from 2 years ago and he will continue to receive it through the end of 2020 ). We explained this from the beginning and submitted our applications without this income. We forwarded the pay stub anyway as requested, to not delay the process. >Finally, on XX/XX/XXXX, we received an email from the processor stating that our loans had been approved. Accompanying the email, she attached 2 loan estimates disclosing our interest rate was locked-in. >The " conditions '' she listed included request for a recent pay stub and proof that it was going to continue for 3 years. I was beside myself and for the 2nd time told her that was not the case. She said that without that, we couldn't get the loans. We never received a formal loan commitment disclosure and only her emails. >They would not work with us. They would not lower the loan amounts and they would not explain the details of the denial. She only insisted on proof of continuity for income that we never disclosed and we have proof that we never disclosed this as income because our initial loan application doesn't list it. She said " she would let us know. '' >It wasn't until XX/XX/XXXX that this person communicated concrete denial. I asked her to send me formal denial letters because this entire ordeal just did not sit well with me. >After continuing to insist for the denial letters, I finally received on XX/XX/XXXX ... 2 months after submitting the applications.
07/15/2023 Yes
  • Mortgage
  • VA mortgage
  • Applying for a mortgage or refinancing an existing mortgage
  • FL
  • 341XX
Web Servicemember
In XXXX of XXXX, we entered into a construction loan agreement with XXXX, utilizing one of their approved builders for the construction of our home. The loan contract explicitly stipulated that the builder was responsible for obtaining permits within 45 days from the commencement of the first loan draw. Despite this provision, XXXX XXXX failed to secure the necessary permits within the specified timeframe. We made multiple attempts to address this issue by reaching out to XXXX, specifically contacting our loan XXXX XXXX XXXX, who provided reassurances on several occasions that there was no cause for concern. However, as months passed, our concerns grew, and we continued to communicate our apprehensions to XXXX through XXXX XXXX and XXXX XXXX. Regrettably, in XXXX of XXXX, XXXX contacted us, through XXXX XXXX, expressing their intention to recall our loan due to the absence of progress in the construction process. Furthermore, they refused to extend the loan, leaving us with the option to find alternative builders and refinance the amount of {$150000.00}, which they claimed we owed, despite the fact that we have no house and they pay a balance of approximately XXXX XXXX dollars for the lot. We diligently proceeded to identify a new builder and promptly submitted all the necessary documentation requested by XXXX to initiate the refinancing process. Despite their repeated assurances that the refinancing could be achieved, we informed them that XXXX other banks had already indicated that such a refinancing arrangement was not feasible due to our debt-to-income ratio. Remarkably, XXXX has set a foreclosure procedure commencement date of XX/XX/XXXX on our property. We have consistently requested an extension of this deadline, affording us the opportunity to sell our property. Unfortunately, our appeals for an extension have been denied without any explanation provided. As a direct result of these inexcusable delays and XXXX 's handling of our case, we have experienced significant financial harm that will get worse when the foreclosure procedures start. I will gladly provide communications and contracts regarding our case at your request.
08/18/2020 Yes
  • Mortgage
  • Conventional home mortgage
  • Applying for a mortgage or refinancing an existing mortgage
  • CA
  • 92707
Web
I applied for a Conventional mortgage with a company by the name of Lending 3 in XXXX XXXX, CA in early XXXX, XXXX. I provided all of my income documents and signed disclosures in XXXX XXXX. On XX/XX/XXXX, I received a phone call from the processor XXXX XXXX informing me that my loan had been declined. She said that I needed to be back at work in order to have more income. It took this company 2 months to tell me I didn't qualify when all along they knew my income sources and had all related documentation. I asked if they could offer me a lower size loan or a longer term and she refused to engage with me and said no and I needed employment income, even though all along from the moment I applied they knew I was not employed and my source of income was only rental income. This company is not following normal business practices and are mis-leading and deceitful. All along I was told that it would work out and to be patient with underwriting. I own 3 properties and have financed home loans plenty of times, enough to know that this company does not follow the rules. They didn't communicate with me and when they did they were not interested in working with me and helping me. Today is XX/XX/XXXX and after insisting on receiving a decline letter for over a month, I just today received it in the mail and attaching to this communication. Thank you for your help in exposing the horrible business practices of this company.
02/08/2018 Yes
  • Mortgage
  • VA mortgage
  • Trouble during payment process
  • CA
  • 91350
Web Servicemember
I purchased a house in an area that has a Special Assessment ( XXXX XXXX ). My mortgage company, GotMortgage, is aware of the XXXX XXXX, because its stated on the Preliminary Title Report. On XX/XX/XXXX, I signed a Closing Disclosure with GotMortgage, that included my principal & interest and escrow of {$4200.00}. When I went to closing on XX/XX/XXXX my principal & interest and escrow was {$3600.00}. GotMortgage sold my loan to XXXX XXXX, and this year when XXXX conducted an analysis of my taxes I am short {$16000.00} for my escrow. Which makes my new payment at {$5600.00}. The reason I am short XXXX is because when I went to closing the Taxes and XXXX XXXX was changed and not enough money was collected for my escrow account. I have contacted GotMortgage to get an explanation to why this happened and I have been told " XXXX XXXX was not collected and they ( GotMortgage ) don't know why my documents were different at closing.
08/07/2017 Yes
  • Mortgage
  • FHA mortgage
  • Applying for a mortgage or refinancing an existing mortgage
  • CA
  • 93454
Web
We gave an approval letter to our borrower who made an offer to XXXX XXXX XXXX who is with XXXXor XXXX XXXX XXXX. The Listing Agent wanted us to talk to XXXX XXXX ( Preferred Lender of XXXX ). We gave all the documentation that they required to pre-qualify our client. XXXX XXXX, 2017 they questioned the buyer 's agent whether or not we can fulfill the pre-approval and can cover closing cost to the borrower. We later found out that the only way the listing agent will accept the buyer 's offer is if we use the listing agent 's preferred lender. We later found out XXXX is not a licensed loan officer and when asked by the agent he later said that he was the branch manager of XXXX. We also could not find an XXXX number for him. XXXX also has a their XXXX license revoked this year in XX/XX/XXXX. Subject property address is XXXX XXXX XXXX XXXX, XXXX, CA XXXX.
12/27/2021 Yes
  • Mortgage
  • Conventional home mortgage
  • Closing on a mortgage
  • AZ
  • 85212
Web
XX/XX/XXXX closed on loan promised payment to my account by XX/XX/XXXX, it is now XX/XX/XXXX, they have not funded loan and have not called me back but XXXX cant confirm problem because Lending3 is not returning my or their calls or emails. They also tried to close the loan on XX/XX/XXXX with wrong documents and charging me {$5000.00} more than what I had previously agreed to and signed off on and when asked for right paperwork they threatened they were going to cancel my loan if I didnt sign the wrong stuff which I still refused so they finally got the right paperwork to me. But now I am awaiting the funding and the funds put into my account and they have disappeared and wont return calls.
03/18/2022 Yes
  • Mortgage
  • Conventional home mortgage
  • Applying for a mortgage or refinancing an existing mortgage
  • CA
  • 92405
Web
I asked for us to get locked in on 4. % Rate the day we did application also they needed money for appraisal I sended it and now they won't send me a copy I asked several times and I got yes tonight ill send it and yes and they never did I called the number on paperwork all disconnected XXXX XXXX XXXX on web for Lending 3 Inc also paper work I signed same number don't work I spoke with XXXX XXXX and she is answer phone once and ignores her number is XXXX XXXX XXXX XXXXplease help me get what I paid for and what ever else I'm intitled to for this company causing me anguish thank you
11/16/2022 Yes
  • Credit reporting, credit repair services, or other personal consumer reports
  • Credit repair services
  • Excessive fees
  • CA
  • 92571
Web
I was introduced to XXXX XXXX by a realtor by the name of XXXX XXXX. She stated she could assist me with my credit. XXXX who is a loan officer advised she charges {$2500.00} and that is what I paid. Well nothing happened. I waited months for results and didnt receive them. I requested a refund which was agreed upon and nothing. I have text messages and emails requesting my money back and nothing. On XX/XX/2022 I received a text that my refund will be mailed and I provided the address. Nothing has been received. I would like my {$2500.00} back.
02/14/2020 No
  • Mortgage
  • VA mortgage
  • Applying for a mortgage or refinancing an existing mortgage
  • FL
  • 34667
Web Older American, Servicemember
I have been getting phone calls from this company everyday and yesterday a lady that called cursed at me because I got upset with them calling me. I asked them to take me off the calling list at least five times. The companies name is Lending3.
10/24/2023 Yes
  • Mortgage
  • VA mortgage
  • Trouble during payment process
  • Fees charged
  • FL
  • 32792
Phone Older American, Servicemember
04/13/2022 Yes
  • Mortgage
  • FHA mortgage
  • Closing on a mortgage
  • CA
  • 90805
Web
10/13/2021 Yes
  • Mortgage
  • VA mortgage
  • Applying for a mortgage or refinancing an existing mortgage
  • IL
  • 61858
Phone Servicemember
12/28/2020 Yes
  • Mortgage
  • VA mortgage
  • Trouble during payment process
  • GA
  • 30047
Web Servicemember
08/29/2018 Yes
  • Mortgage
  • FHA mortgage
  • Applying for a mortgage or refinancing an existing mortgage
  • CA
  • XXXXX
Web
11/21/2016 Yes
  • Mortgage
  • Conventional fixed mortgage
  • Settlement process and costs
  • NV
  • 89156
Phone Servicemember
09/18/2016 No
  • Mortgage
  • Conventional fixed mortgage
  • Loan servicing, payments, escrow account
  • CA
  • 92220
Web